“This recent acquisition is part of the strategic plan of our group — which has been leading the luxury yacht industry for 17 years — to offer the owners not only the most beautiful yachts, but also the utmost service,” Paolo Vitelli, Azimut Benetti president, said in a statement. “We are the only player in the yachting industry that takes care of the owner along with the entire process, from yacht purchasing to management, refit and repair service, crew recruitment and chartering to resale.”

Fraser buys and sells more than 50 superyachts each year and holds about 15 percent of the market, Azimut Benetti said. The group directly manages 120 superyachts and operates around the world with offices in Munich; Fort Lauderdale; San Diego; Seattle; London; Palma, Majorca, Spain; Bodrum, Turkey; Doha, Qatar; Duba; Kuwait; Singapore; and Sydney.

New offices also have been set up in New York and Hong Kong.

Benetti will focus on building yachts of more than 295 feet and has three under construction. The manufacturer is also working with Rolls-Royce on propulsion systems.